• Contingencies, which could include items such as inspections, appraisals, and financing • How you’ll be paying (loan or cash) • Proof you have the money
Some RPAs require different information, so if you’re going to be flipping properties in multiple areas, it’s a good idea to get RPAs from all those areas, so you know exactly what will be needed in each location, which will save you time in the future.
FIXING UP YOUR FIXER UP UR FIXER UPPER
After finding the right fixer-upper property , the second-most important component is finding the right person to help you fix it up. We’ve all heard contractor horror stories; unfortunately, this honestly is one of the trickiest parts of the process. Even if you’re a seasoned Do-It-Yourself (DIY)-er or a construction professional, I recommend having a solid, reliable contractor on your team. They’ll be there for expert advice, they’ll come with a team of skilled workers, and they’ll help the process move more quickly (“time is money” is a saying for a reason). Plus, they can help you out if you have a lot going on in one — or multiple — properties. Further, in your role as a flipper, it’s your job to find deals, make contacts, set up financing, and keep an eye on your ROI and bottom line. If you’re busy with construction, these things get pushed aside, and your business can’t grow as quickly.
TIME TO SELL: HOW TO NEGOTIATE
The best way to sell your home is to list it with a great real estate agent. (Unless, of course, you are a great real estate agent, in which case, it’s all up to you!)
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